The Bundaberg BioHub is powering ahead with ASX-listed energy company LPE announcing a $7.5 million capital raising to participate in the project.
LPE will be the electricity retailer for the BioHub, billing the renewable energy behind the meter and interfacing with the wholesale market to import/export any shortfall/excess energy.
Bioenergy developer Utilitas Group collaborated with Bundaberg Regional Council to acquire the former East Bundaberg Wastewater Treatment Plant to create an industrial park focused on renewable natural gas, biomethane and hydrogen.
Bundaberg Region Mayor Jack Dempsey said LPE plans to supply green renewable energy to high-use tenants such as data centres and crypto miners.
“The company is connected with a proposed on-site crypto miner, STAK Mining Pty Ltd, which is focused on 100 per cent renewable-powered projects,” he said.
LPE predominantly service the Queensland energy market, selling electricity, hot water, solar and battery systems to homes, businesses and strata communities.
“It’s exciting to see this innovative business choosing to participate in the Bundaberg BioHub and raising funds from investors,” Mayor Dempsey said.
“I also welcome STAK Mining as a new tenant. They’re a newly formed Australian company with experience in secure tier III datacentres and mining cryptocurrency.
“Their premises at the BioHub are yet to be built, but they hope to begin mining operations later this year.
“They’re committed to having a zero carbon footprint and this is exactly the type of investment we need if our region is to meet its net zero target by 2030.”
Mayor Dempsey said the BioHub is repurposing Council’s decommissioned East Bundaberg wastewater treatment plant and creating new jobs in the bio-economy.
LPE's full ASX statement is available here.